Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: Variational Omni against ApeX Omni−0.185%7-day average −0.065% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.142%+$14 · spread now −0.185%, 7d avg −0.065%

Together, before fees+0.127%+ Points / potential airdropVariational Omni: Active · farm board+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.121% cheaper against ApeX Omni than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni 1000BONKUSDT	0.000003530	0.0100	pay 0.0013% / 1h	12m 53s	$59K	$705K	25x
Short	Variational Omni 1000BONK	0.000003523	0.0100	get 0.0050% / 4h	12m 53s	$331K	$99K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.185%Rate

Funding earned: $0
Price spread: −0.185% → −0.065%: −$12.08
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$22.08
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 26 min ago; Variational Omni: RFQ quote, 26 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy ApeX Omni live order book, 26 min ago	7.02 bp	14.4 bp −$14	98.7 bp −$987	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 26 min ago	7.03 bp	doesn't fit	54.8 bp −$548	doesn't fit	doesn't fit

BONK on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International 1000BONK-PERP-INTX	−0.0040%	1h	0.000003539	+0.255%	$43K	$67K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003540	+0.283%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003547	+0.476%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.252%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003549	+0.539%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003549	+0.552%	$70K	$138K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003549	+0.542%	$59K	$323K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003544	+0.397%	$119K	$158K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003547	+0.484%	$18.6M	$88.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003541	+0.309%	$12.5M	$26.8M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003546	+0.453%	$3.0M	$15.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003547	+0.482%	$955K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003553	+0.652%	$11.6M	$9.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003545	+0.419%	$3.0M	$11.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003542	+0.340%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003543	+0.368%	—	$5.0M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003523	−0.185%	$331K	$99K	—
ApeX Omni 1000BONKUSDTlong	+0.0100%	1h	0.000003530	long leg	$59K	$705K	25x
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003548	+0.510%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003556	+0.737%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003550	+0.567%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003550	+0.567%	$101K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003553	+0.641%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003546	+0.453%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0143%	4h	0.000003555	+0.708%	$1.1M	$20.5M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.014%	$540	—	100x	as long as short
Lighter 1000BONK	+0.0440%	1h	0.000003553	+0.652%	$249K	$769K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0596%	1h	0.000003551	+0.595%	$35K	$164K	10x	as long as short
Hyperliquid kBONK	+0.1007%	1h	0.000003549	+0.538%	$12.2M	$8.4M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1734%	1h	0.000003557	+0.765%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4485%	1h	0.000003553	+0.661%	$181K	$275K	50x	as long as short